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Luxury goods group LVMH on Wednesday posted better-than-expected second quarter revenue, lifted by accelerating momentum in its fashion and handbag division that houses its Louis Vuitton and Christian Dior megabrands.
By Reuters
LVMH, whose labels also include champagne maker Moet & Chandon, said second quarter sales rose 15% to 12.5 billion euro ($13.93 billion) euros, up 12% at stable exchange rates and a comparable number of stores. Analysts had expected like-for-like sales growth of around 10% in the period.
For the six months to end-June, LVMH’s earnings before interest and tax (Ebit) rose 14% to 5.3 billion euros, a touch below forecasts, and giving an operating margin of 21.1%, flat from a year earlier.
($1 = 0.8976 euros) (Reporting by Sarah White and Pascale Denis; Editing by Leigh Thomas)
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